LORDSTOWN, Ohio - Just days after two of its top executives resigned from the company, the president of Lordstown Motors announced to reporters that it has "firm" and "binding" orders for its first two years of production. 

"It's a new day at Lordstown," said Angela Strand, Executive Chairwoman. "There are no disruptions and will be no disruptions to our day to day operations."

According to a Reuters report, Lordstown Motors President said Tuesday that they have enough orders and cash on hand to keep operating through next May.

“Currently, we have enough orders for production for ‘21 and ‘22,” President Rich Schmidt said at an Automotive Press Association event in Detroit. “Those are firm orders we have for those two years.

I don’t know the exact facts of the legal aspect of that, but they are basically binding orders that are committed here in the last two weeks, reconfirmed orders,” he added, when asked if they were binding orders. “They’re pretty solid, and I think that’s on the light side or conservative side.”

Lordstown’s shares, which shot up as much as 15%, were up 7.8% at $9.98 a share in afternoon trading on the NASDAQ.

This all stemmed from a Hindenburg Research article in March which claimed the company made misstatements about the demand for the Endurance pickup truck, the viability of the truck's technology and LMC's ability to start production as planned in September.

Becky Roof now holds the company's Chief Financial Officer position and Jane Ritzen-Parsons is the new Chief Operating Officer.

"Becky has decades of leadership experience in capital markets and reporting in controls," Strand said. "Jane has decades of global leadership experience in brand building as well as a successful track record in revenue growth."

Although an LMC committee concluded that Hindenburg's report was false and misleading, it did find some credence in claims about inaccurate pre-order disclosures made by LMC.

21 News has reached out to Lordstown Motors for comment.